Singapore’s K-REIT Asia (KASA.SI) said on Thursday first quarter distribution per unit (DPU) rose 35% from a year ago, helped by contributions from recently acquired properties.
The DPU for the three months ended March 31 was 1.79 cents, up from 1.33 cents in the year-earlier period.
The DPU for the three months ended March 31 was 1.79 cents, up from 1.33 cents in the year-earlier period.
K-REIT said its net property income for the quarter rose 7.6% to $14.9 million, as contributions from recently acquired properties offset the loss of income from two divested Singapore office buildings.
At the end of the first quarter, K-REIT had an asset size of about $3.5 billion, comprising four commercial properties in Singapore and two in Australia.
K-REIT is managed by Keppel Land (KLAN.SI), Singapore’s third largest developer.
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